MarketChess
Showing articles 6201 - 6210 (6580 total)
28Jan3:47 pmEST
Chess Moves Into the Bell
I went long BIS $40.69 with a stop-loss below $38.60. Ultra-short biotech ETF. Playing for biotech to either crack now...or never. I sold my SLW long at $22.74 from $23.36 to step out of the way of miners selling and to keep losses small on the downside reversal in the miners. I also 1/2 of my long SDS long at $23 from $21.99 entry to scale...
28Jan3:24 pmEST
Pressing for the Bear to Catch This Train
The two keys to my SOXS (triple-bearish ETF for semiconductor sector) long can be found in the top two components, INTC TSM, seen on their respective daily charts, below. INTC has been the weak sister, breaking down from the highlight sideways channel, while TSM, the strong one, may be ripe to breakdown from the highlighted rising wedge. If the...
28Jan2:42 pmEST
Baking a Trade with Bittersweet Chips; Chess Moves
I went long SOXS here at $13.99, with a protective stop-loss below $13.20. This is the triple-bearish ETF for the semiconductor sector, a trade idea I have referenced recently. The top two holdings are bittersweet chips, in that they are INTC and TSM. INTC has been quite weak, while TSM has been impressive. I am playing for TSM to follow INTC...
28Jan1:29 pmEST
Waiting for the FOMC Reaction to Get Into My Groovology
It is slow-going out this afternoon, with the market likely at a standstill of sorts in front the Fed's meeting announcement within an hour or so. I am holding my SDS and SLW longs, both with some modest profit cushion, after cutting my oil long first thing this morning to keep losses contained. On my radar are biotechnology and semiconductor...
28Jan12:05 pmEST
Checks and Balances
If the Fed is going to remain dovish in terms of projected rate hikes, then to my eye the main entity which is capable of "checking" it would be the bond market. True, gold prices rising could add some pressure. But, for the most part, as long as rates stay historically low it is hard to see the Fed feeling inflationary pressures, with...
28Jan10:50 amEST
Analysis Before the Big Game Later Today
In front of the FOMC later today, the market is modestly fading an opening pop. The small caps in the Russell 2000 Index were the first to flip red, and other indices followed suit not too long after. Precious metals and miners are largely consolidating recent gains in a fairly benign manner, while natural gas and crude still struggle to...
28Jan9:52 amEST
No Dice on Oil; Chess Moves
I stopped myself out of my long UWTI play at $2.61 this morning for a loss, from the $2.78 entry I discussed yesterday . As it turns out, the inverse head and shoulders (or "Sheikh") pattern was a fake-out, leading to a fast move lower. This sort of thing can, of course, happen. But I still believe the trade was worth the risk in the event...
27Jan4:40 pmEST
Stock Market Recap 01/27/15 {Video}
The following video contains coverage of relevant broad market issues (for equities) in addition to plenty of actionable trading ideas across other asset classes. Feel free to pick and choose which ideas and parts of the analysis fit your style. Always properly manage your downside portfolio risk for any trades taken. Enjoy tonight's...
27Jan3:25 pmEST
Fruit of the Looming Earnings Report
With AAPL (and YHOO) reporting earnings tonight after the bell, we have some high stakes in play. The AAPL daily stopped short of clearing the prior $115 level above I had discussed as being critical to overtake in order for bulls to commence a fresh leg higher out of the highlighted falling channel consolidation in what has been an otherwise...
27Jan2:41 pmEST
Taking a Shot at Some Relief; Chess Moves
Consistent with my last blog post, I went long UWTI , the triple-long ETF for crude oil, at $2.78 with a protective stop-loss below $2.60. The U.S. Dollar is selling some profit-taking today, and that typically should bode well for at least some type of relief for the struggling crude. As I have stated before, these levered ETFs are to be taken...
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About
“chessNwine” has been a popular trader and financial blogger since 2009. His work has appeared in The Wall Street Journal Online Edition, Yahoo Finance, TheStreet.com, Josh Brown’s The Reformed Broker blog, AbnormalReturns.com, Barry Ritholtz’s The Big Picture blog, and the “Suggested” stream on Stocktwits.com.
